Meet Surfin! This Singapore-headquartered fintech builds products for the underserved middle class. Now, they’ve just raised a $12.5M Series A from Insignia Ventures Partners.

• They are active in eight countries across three continents and has served 60M users.
• They have had around $2.7B in cumulative transactions.

Breaking from the bootstraps. Founded in 2017, this is their first round of external funding.

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⬇️ Started from the bottom

They started with consumer lending. Over time, they’ve built an ecosystem of products powered by their unified credit scoring engine that’s backed by AI and data analytics.

Collecting licenses. To do this, they’ve secured licenses across multiple jurisdictions.

• In Indonesia alone, they have P2P, mutual fund distribution ,and remittance licenses.

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💪🏼 Now we’re here

Building an ecosystem. On top of consumer lending and the data from their credit scoring engine they launched even more financial services.

• They have payments, remittance, credit card issuance, investing, and more.

Moving fast. They’ve been actively launching in multiple countries nearly each year, starting with Indonesia (2018), Vietnam (2018), Mexico (2018), Philippines (2018), Nigeria (2019), Kenya (2019), India (2021), Uganda (2022), and Australia (2023).

In 2023 alone, they:

• Launched a mutual fund trading platform called Ayovest designed for young, first-time investors to invest productively and safely, starting from as low as IDR 10,000 (~$0.6).
• Established a credit card business in Mexico called Sufinc in partnership with Visa with flexible payment terms, no annual fees, and global acceptance.

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🔜 What’s next?

They’ll level up their tech and expand their ecosystem of financial products globally.